MiJac’s Dire Financial Situation Motivated Him to do Shows

*Probably the one thing that hardcore Michael Jackson fans hated to admit or even talk about in the last years of his life were the constant rumors that he broke. Now, as a result of his wrongful death trial, it appears the rumors were dead on accurate.

On Wednesday, AEG head man Randy Phillips told the jury about an emotional meeting he had with Jackson around Halloween, 2008. Phillips said a tearful Jackson told him his 3 kids were living “like vagabonds” — shuttling from a Las Vegas rental to the Bel Air Hotel in L.A.

In the final months of his life, one of the biggest motivators for doing the London shows was just to make enough money to buy his own home where he could raise his children.

Phillips recalled an emotional Halloween meeting with Jackson at the hotel, with the pop star’s three children running in and out of the room.

“I felt incredibly bad that this incredible star was at this point where he just couldn’t buy a house with all this money he made,” Phillips testified. “It just didn’t make sense.”

Phillips said it was the “first time Michael really told me why he wanted to go back to work.”

“He actually broke down and I broke down — we both broke down,” he told the court.

Phillips says The King of Pop was eager to have a permanent address he almost bought a “gigantic,” 40,000-square-foot house with a $93-million price tag in Bel-Air. But Phillips said he told Jackson the house was too much: “you’ll put every dime you make into this house,” he recalled telling the singer.

In the end, Jackson finally settled for life as a renter, and he and his family moved into a $100,000-a-month Holmby Hills estate he paid for using a multimillion-dollar advance he received from AEG.

8 Responses

If this story is true how sad!! I heard Michael would spend all his money on extravagant things that he really did not need, besides hhis donating millions ot charity- which is okay and the right hting ot do IMO!! he should of sat down with hsi accountant and looked out for hsi future when he would no longer be performing anyway, renting a house for 100K?? surely he could of found a nice house to buy for that much. 1000K is too much to pay for renting. IMO!!

This is BS!! What they want Us to believe?, but so far from the truth! The same people sayin this?, were the same saying this when he was still ‘on Monday, & ‘on Thursady be telling us thst he’s “shopping for a Tuscany Villa”! But what they NEVVA say eeah?, how they’re going by what he had in “US ” banks, & not…..worldwide/offf shore accounts! They know GD well MJ wasn’t broke by ANY means. And even “if”?, he STILL had that caatalog (his own AND the Beatke’s!) insuring he would NEVvah worry for money in his fkn life. So again….”BS”, BS to divert attention away from the crooks involved & …..still alive. And any/EVERYthing they “can” do , to tarnish that man’s rep/legacy?, they will SURELY do!! “Ta Daaaaaaah”!/PuuuuuuLEEEEze!

Alot of things will change,when you are not at the TOP anymore,it’s hard for MICHAEL JACKSON FANS to believe that he was almost broke,from what i remember, Micheal SOLD half of THE BEATLES cataloge,because he needed money,it still very sad how it ended.

Wow, such poverty, a 100k / mo. rental, practically “trailer trash” living, eh? I wonder how much he had, that he could put down on a 93 million dollar estate? My guess would be, that if he could even consider it, he still had a princely sum left. Perhaps even enough purchase a more modest 20 or 30 million dollar home? While “America’s Mayor” gets by on his 12 million dollar McMansion in the Hamptons… Oh my, will the poverty and deprivation never end?

His 50% share in Sony/ATV Music Publishing in 2009 (consisting of 1 million songs, including the 256 songs of The Beatles, Elvis Presley, Bob Dylan, GaGa, Bieber, Eminem…) was worth 1.5 billion dollars, in 2012 Sony/ATV bought EMI Music Publishing for 2.2 billion dollars, and

NOW constists of more than 2 million songs from catalogs of EMI Music Publishing, Leiber Stoller, Mijac Music, Motown and the Famous Music!!!!
In 2013, Sony/ATV/EMI Music Publishing company is worth 4 billion dollars and it make it the biggest music publisher in the world!!!!!

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